G.M. Says New Wave of Tariffs Could Force U.S. Job Cuts

[DonViejo]

Source: The New York Times




By Tiffany Hsu
June 29, 2018

General Motors warned Friday that another wave of tariffs being considered by the Trump administration could force the company to scale back its business and cost American jobs.

In comments submitted to the Commerce Department, the automaker said that the tariffs, if approved, could drive individual vehicle prices up thousands of dollars, stifling demand. Such costs would need to be borne either by consumers or the company.

Last month, President Trump ordered an investigation into whether imported cars and automotive components could pose enough of a national security risk to warrant tariffs of as much as 25 percent. If he goes ahead, it would intensify a global trade war that has engulfed allies and adversaries. In recent months, the administration has imposed tariffs on imported steel and aluminum, along with measures targeted at China.

Carmakers, in particular, have been caught in the middle of the trade fight. They rely heavily on metals to build their cars, including parts from overseas. The president’s threat to pull out of the North American Free Trade Agreement could also hurt the industry supply chain.

Read more: https://www.nytimes.com/2018/06/29/business/automakers-tariffs-job-cuts.html

[hibbing]

1. He's a brillian businessman

The idiot that I had to my taxes this year said that to me. He said this to me AFTER he finished doing my taxes. He's a businessman, he'll get this economy humming! I should have complained to his supervisor. What is with these Trump awads always having to shove it in your face?


Peace

[nycbos]

2. So much winning

[Bengus81]

3. But...but.....Shitler said GM and other Corporations would be flying BACK to the US

and closing foreign plants because of his incentives and economic genius.

[Wellstone ruled]

4. And minute this report hit the wires,

GM and Ford got clobbered by the Markets.

[onecent]

5. OMG, Only the ONE OF A KIND cannot do this....

shame on him.....thinking he could do all this himself.....MORON..

[mahatmakanejeeves]

6. There are 1,995 items in the docket so far.

https://www.regulations.gov/docketBrowser?rpp=25&so=DESC&sb=commentDueDate&po=0&D=DOC-2018-0002

Notice Request for Public Comments and Public Hearing on Section 232 National Security Investigation of Imports of Automobiles and Automobile Parts

[Solly Mack]

7. For the win!

Snort

[sakabatou]

8. "I was told there would be winning"

[Achilleaze]

9. republicans continue to weaken America

[Ohiogal]

10. Almost every American manufacturer

uses some parts and components that are made overseas. It's been that way for decades now. Donnie's ham-handed solution of taking a sledgehammer to it is just going to make everything more expensive for the average consumer. It's too bad he doesn't have any decent economic advisors who know something .... but at any rate, he doesn't listen to any advisors anyway, just his own huge ego. If GM can't afford to do business in this country because all of a sudden their raw materials are costing a whole lot more for no reason at all, that's not GM's fault, that's on Donnie. A more rational president would set his economic experts to work doing research and coming up with viable plans to discuss and debate, but this orange turd is so obsessed with appearing "strong" and making dramatic huge pronouncements that make it seem like he knows what he's doing, which he doesn't. Maybe once his base is hurt very badly in the pocketbook, maybe then they'll begin to question if Donnie knows what he's doing. Of course it's always possible they'll blame Obama for it like they do everything else.

[jmowreader]

11. Trump was right about one thing

I have had it up to here with all the winning.

[elleng]

12. No 'sh*t,' Sherlock.

[workinclasszero]

13. Okay now fuhrer Dump will attack GM

like Harley-Davidson I bet.

[BigmanPigman]

14. If he doesn't say anything we know he is fuming.

[Initech]

16. "Government Motors should have never taken Obama bribe money! Terrible cars! Sad!"

[Initech]

15. MAGA!!!!

[Takket]

17. doesn't matter to MAGA heads

if they are losing money that isn't drumpf's fault. look at Harley Davidson.

[CentralMass]

18. tRhmp is systematically killing the country

[Julian Englis]

19. To tRump, what the former KGB Colonel wants matters more than what General Motors needs. n/t